• Using this option user can define various payment terms and conditions. When cash / bank received entry is done and when it is mapped to a certain invoice it shows the receivable amount based on the payment term. In payment term one can specify For e.g.: What discount will be given if payment is received within 30 days, 60 days etc.

                                              

    1. Open an existing company following Open Company.
    2. Click "Master" from menu-bar & select Payment Term and following screen will appear.


                      


 Code

 Select the existing code from the picklist.

 Code

 Write the code. 

 Description

 Write the description.

 Calculation On

 Select whether you want to calculate on 'Bill Date' or 'Due Date'.

 Discount Days

 Write days of discount.

 Discount Method

 Select the method for calculation of discount whether it should be 'None', 'Percentage' or 'Value'. 

 Discount percentage

 Write the percentage for discount.

 Discount Amount

 Write the amount of discount.

 Interest Days

 Write the days of interest.

 Interest percentage

 Write the percentage of interest.

 Disc. Slab Days (Before)

 Write the slab days before discount.

 Disc. Slab %age (Before)

 Write the slab percentage before discount.

 Disc. Slab Days (After)

 Write the slab days after discount.

 Disc. Slab %age (After)

 Write the slab percentage after discount.

 Flat Calculation Type

 Enable if it is flat calculation.

 Notes

 Write the notes.

 Status

 Disable the status if you do not want in picklist.


    1. Edit the changes and click on 'Save' button.